I think this is the one announced in the 08 April 2018? The announcement states that of the two loans from Goldman Sachs (A - 160m, B - 365m). Loan A is amortised over the 5 years to 2023. However, there are no details provided for the repayment of Loan B, which is the 365m.
Given they repaid around $40m last year. They may be paying off Loan A only at present. With the 365m sitting untouched, the lender happy to receive the interest at this stage. Although, without details, this is only speculative on my behalf.
So yes, you could be right, they may renegotiate Loan B moving forward. As at present, they are possibly not paying it off, and are unlikely to pay a lump sum when the debt matures in 2023. Meanwhile GS possibly happy to collect interest.
I will email Infigen to enquire about a strategy for this.
As you note, Capital Lite structures can be used moving forward to minimise debt additions. Although, i’m still trying to get my head around them at present!
Cheers,
AC
IFN Price at posting:
64.5¢ Sentiment: Hold Disclosure: Not Held
